TrackLight, a pioneering firm in AI-assisted fraud detection and prevention, recently secured a $3m seed investment.
This financial injection was spearheaded by BarronKent and Growth Factory, who are now pivotal in TrackLight’s next phase of development.
The company specialises in deploying advanced AI technology to preemptively identify and mitigate fraud across governmental and corporate sectors. By focusing on preventing fraudulent activities before financial transactions are completed, TrackLight is setting a new industry standard for fraud prevention.
The fresh capital will be directed towards advancing the development of TrackLight’s platform, alongside scaling their sales and marketing efforts. With this strategic funding, TrackLight aims to enhance its product offerings and expand its market reach, solidifying its position as a leader in the fraud detection arena.
Additional information reveals that TrackLight has been operating under the radar for the past year, perfecting its solutions in stealth mode. This period of intense development and testing has culminated in the launch of its flagship AI platform, Ray the Parrot, designed to aid in fraud prevention. The company’s recent emergence into the public eye was marked by a launch event in May, attended by nearly 100 experts from both government and private sectors.
BarronKent Managing Director David Peregrine expressed his enthusiasm about supporting TrackLight, stating, “We are excited to support TrackLight’s mission to bring unprecedented effectiveness and efficiency to this area. The momentum they’ve built and their potential to transform fraud prevention make them a standout in the market.”
Previously, TrackLight had also secured significant support through NVIDIA’s Inception Program, receiving a $100,000 grant. This partnership not only provided financial backing but also facilitated collaborative opportunities with leading NVIDIA experts, further enhancing TrackLight’s technological capabilities.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
